Litecoin Technical Analysis: LTC/USD bulls breakout from stubborn descending trend line, daily close above is vital for further upside

• Litecoin seen some up a chunky 6% on Wednesday, with signs of a recovery from the recent causalities.
• LTC/USD bulls have dipped their horns above a stubborn descending trend line, that had been containing upside.

LTC/USD 30-minute chart

Spot rate:                    57.044

Relative change:        +5.15%

High:                           57.794

Low:                            54.150

Trend:                         Bullish

Resistance 1:                     59.858, (resistance on 4-hour chart).

Resistance 2:                      60.407, 50MA.

Resistance 3:              64.150, supply zone.

Support 1:                    55.350, above breached pennant.

Support    2:                  54.750, (support on 4-hour chart).

Support    3:                  51.690, 14th August low.